Prices will begin at NIS 1.7 million.
Rainbow Real Estate Investments Ltd. has bought an eight-dunam (two-acre) lot in Gedera for NIS 8 million, plus VAT. The lot is zoned for 18 houses, reflecting a price per land per house of NIS 445,000. Gedera is a small town about 25 kilometers southeast of Tel Aviv.
Rainbow will build houses of up to 170 square meters on lots of up to 250 square meters each. Rainbow's asking price starts at NIS 1.7 million, with it estimates total sales at NIS 30 million.
Published by Globes [online], Israel business news - www.globes-online.com - on June 20, 2010
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